Welcome!

News Feed Item

How to Make a Co-Pay Card Program Work



Kevin Kane and Lori Schwartz of MarketShare Movers LLC, a solution provider at the marcus evans PharmaMarketing Summit 2014, on achieving a good ROI from co-pay card programs.

NEW YORK, NY, May 14, 2014 - (ACN Newswire) - Pharmaceutical marketers need to make data part of every decision they make, advised Kevin Kane, President, and Lori Schwartz, Vice President - Operations / Data Analytics, at MarketShare Movers LLC. The majority of co-pay card programs fall short of the expected return on investment (ROI), because they are not tracked or monitored to the degree and frequency that they could be, they said.

MarketShare Movers LLC is a solution provider at the marcus evans PharmaMarketing Summit 2014, in Palm Beach, Florida, May 12-14.

- What needs are not being met in pharma marketing with co-pay card programs today?

Kevin Kane - A critical need is to execute promotions promptly and measure impact early and often. Many people say they do it, but they are too slow in getting products out into the market. Co-pay card programs, if they are measured at all, it is done too late. In addition, most co-pay card vendors are one dimensional and do not integrate data and decision making.

- How could companies boost their market share? What do some co-pay card programs lack?

Kevin Kane - Although these programs are expensive, companies consider them important because they do not want excessive cost to be the reason why patients are not taking their drug. When co-pay card prescriptions are written, we match opt in patients to their prescription data, their pharmacy, and their doctor. If this is managed appropriately, the data can be used to make one good decision after another. However, most marketers do not believe they can affect the outcome.

- What data should they look at to achieve better results?

Lori Schwartz - We help the brand manager set up an objective - for example, 100,000 prescriptions by the end of the year - and focus on that. We look at the market, get prescription data, look at the profit margins, how competitive products are trending, product price and clinical profile.

When the product is being launched, we look at the data coming in on a daily or weekly basis, and try to understand the relationship between using the co-pay card to try at production and leveraging this to become an ongoing behavior change. Our goal is to get as many doctors as possible to try the product in the shortest period of time and avoid cannibalization, overuse of the card, as it affects ROI. A high volume redeemer will not bring higher profit, so pulling back the promotions on certain targets (at a certain time) would give us the opportunity to provide them to higher opportunity targets.

It is important to evaluate the program on an ongoing basis, and adjust the offer or channels accordingly. We have learned that if we get the brand manager to make five or ten decisions that they previously would not have made, the end result will be exponentially higher.

About the PharmaMarketing Summit 2014

This unique forum will take place at the Eau Palm Beach Resort & Spa, Palm Beach, Florida, May 12-14, 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on digital marketing, building a brand strategy, generating new revenue streams and boosting physician engagement.

For more information please send an email to [email protected] or visit the event website at www.pharmamarketingsummit.com/KevinKaneLoriSchwartzInterview

marcus evans group - marketing/sales sector portal - www.marcusevans.com/reviews/marketing

The Marketing Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.

- LinkedIn: www.linkedin.com/groups?mostPopular=&gid=3379860&trk=myg_ugrp_ovr
- YouTube: www.youtube.com/MarcusEvansMarketing
- Twitter: www.twitter.com/meSummitsMkt
- SlideShare: www.slideshare.net/MarcusEvansMarketing

Please note that the Summit is a closed business event and the number of participants strictly limited.

About MarketShare Movers LLC

MarketShareMovers is the only full service co pay card company that has a hyper-focus on our client's market penetration and ROI. A vast majority of the industry co-pay card programs fall short of the ROI you expect and deserve. If you need your market share to move, we've got the proven experience, the pioneering method and the immediate analytics to do the job. We can provide you with an actionable and adjustable co-pay card program that's guaranteed to yield unprecedented success. For the past 15 years, our experts pioneered the original successful use of vouchers/co-pay cards to move brand market share and ROI. www.marketsharemovers.com.

About marcus evans Summits

marcus evans Summits are high level business forums for the world's leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com.

- Twitter: www.twitter.com/meSummitsGlobal
- YouTube: www.youtube.com/user/MarcusEvansGroup
- SlideShare: www.slideshare.net/MarcusEvansSummits

Source: marcus evans Summits

Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: [email protected]




Copyright 2014 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...